Bank of America Corp DE Has $22.73 Million Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Bank of America Corp DE cut its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 59.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 265,828 shares of the company’s stock after selling 382,155 shares during the period. Bank of America Corp DE owned 0.07% of Fomento Económico Mexicano worth $22,726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Brooklyn Investment Group lifted its stake in Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 154 shares during the period. Mather Group LLC. increased its stake in shares of Fomento Económico Mexicano by 179.1% in the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after acquiring an additional 369 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Fomento Económico Mexicano in the 4th quarter valued at approximately $51,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Fomento Económico Mexicano in the 4th quarter valued at approximately $72,000. Finally, UMB Bank n.a. boosted its stake in Fomento Económico Mexicano by 29.7% during the 4th quarter. UMB Bank n.a. now owns 887 shares of the company’s stock worth $76,000 after acquiring an additional 203 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Fomento Económico Mexicano from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Itau BBA Securities raised Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. UBS Group increased their price target on Fomento Económico Mexicano from $107.00 to $112.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group decreased their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $106.70.

Fomento Económico Mexicano Stock Up 0.8%

Shares of FMX stock opened at $103.28 on Monday. The firm’s fifty day moving average price is $100.70 and its two-hundred day moving average price is $92.93. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $81.08 and a 1 year high of $120.15. The firm has a market capitalization of $36.95 billion, a P/E ratio of 26.48, a PEG ratio of 5.26 and a beta of 0.69.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The company had revenue of $9.65 billion during the quarter, compared to analyst estimates of $194.75 billion. On average, equities analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were paid a dividend of $1.628 per share. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.92. This represents a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, April 24th. Fomento Económico Mexicano’s payout ratio is currently 11.41%.

Fomento Económico Mexicano Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.